New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-02-07
THE PETROLEUM MARKET

NEWS FROM THE FIELD AND RANGE OF PRICES.
There changeto report in the condition Of the pero
en Industry and yet the weakness Of the crude speculation
continues to assert Itself. There from the
petroleum country last week Justify the depeson which
ruled unless We must revise all our former 1T as OF reason
assertions most Of tic best informed and oldest pro.
dnesrs ha The low se article iSnd the ono sds rs m
competitor with Pennsylvana crude Yet IL can not
Ss on tho and the We're
Gy The circular letter i'.u BY
received some severe criticism tor several extreme state
but ddpar formation that now to the general pub
sas. Of the u Situation
Lima out Of consideration There the Developments
OF rs magnitude hut the aeds which yield selling
twice the money that Lima oil ietches which mud
represented The certificates dealt at the various oil er
changes are sun shrinking in production som rich wells
trict, but tho field is believed TO be defined
Ike cotoy Kun and some Of ns smaller pools. Good ~ei,
also opened in Washington aud yet tho gauge of Satu
barrels er vol against an average OF SO tho
Barrels Meantime the decline IN the oder deds still leaves
the deliveries tar ahea OF The pPo limo runs, The ian Official
500 900 barrel, in January For that the
cS%SST 1915 ~ narrey. n NoycSs 1888 So
barrels in January ss6 ant 53 2S barrels January dso
s2O2 barrels in December 1885, s33o6 barrels Noyen
her 1855 6Gls9 barrels January 1885 aud $50 bar
rel IN J.naary 1852 The ReDo pool I, .ey to see ITS
maInum ~, month Sn n9 e a. M h oa U
py tho demand The January pipe limo figures were as
Runs Deliveries. Excess devs. Charters.
Total bbls. i, sJstls 2.2251sl 32I3D3 l,Os53lO
u.t ,,y On 13g II 7gg 1850 3jOl2
Who last week gave held TO warrant the CONVEX
.iop Of bu bear the National transit certificate
speculation throughout. Facts cannot be
denied AMI. while admitting the bu.lIsh char
,cier OF statistics tho trade has gradually become
favorable ~ price. weight OF storage charges,
The trracsry the last avancc tie deafness Of public IN
terest Ia speculation fears ~ Lima oil and It's Wig
market Jreakcf and the apparent
Indifference Ia The oil market have
principal Influence that caused holders to sell aud
ears 10 20 short rule. however the trading element
has OF sell "phLuou on " AT the ruling low
rce and -aing whose dealings might create
would furnish the basis Tor sharp All
vance have accustomed themselves 90 the d hat
hig OIL Mere thoy 10 accept this olsef con
nny their would be iIeer and the bu party might look
forward possible squerEe to- largo bear company
1he rue oIrnr at lO0 IOa cents and ts course
iowpward tGia gradual recession broken
by mo- rally III consequence moderate dealings But
tie week with Ia ~ nc a. ng and ffom
price recovery OF about cent and the net loss from
ruled throughout AMI ended yet there are no other
nrations of heavy short interest II toie be- larger
than generally supposed, the coming week may wtbess
.harn rally but any fresh Jearl- u more
likely further break lie close was weak win
the traders lAf sely brari-h , ,..,,-. d, 49,,
the Consolidated stock ana Petroleum
Exchange for the last three weeks we're As 'oloWs'